Ultrasound Market Size to Rake USD 18.98 Billion by 2033

The global ultrasound market size is estimated to rake around USD 18.98 billion by 2033, growing at a CAGR of 7.30% from 2024 to 2033.

Key Points

  • The North America ultrasound market size accounted for USD 3.85 billion in 2023 and is expected to attain around USD 7.88 billion by 2033 with a CAGR of 7.42% from 2024 to 2033.
  • North America led the ultrasound market with the largest share in 2023.
  • Asia Pacific is observed to experience a notable rate of growth during the forecast period.
  • By product, the diagnostic segment held the largest share of the market in 2023.
  • By portability, the cart-trolley segment dominated the market in 2023.
  • By application, the radiology segment dominated the market in 2023.
  • By end-use, the hospitals segment held the dominating share in 2023.

Ultrasound Market Size 2024 to 2033

The ultrasound market is a dynamic sector within the medical imaging industry, characterized by the use of high-frequency sound waves to visualize internal body structures in real-time. It serves as a non-invasive diagnostic tool across various medical specialties, including obstetrics, cardiology, oncology, and urology. Ultrasound technology has evolved significantly over the years, offering improved imaging quality, portability, and versatility in clinical applications. The market encompasses a wide range of ultrasound systems, including cart-based, handheld, and portable devices, catering to diverse healthcare settings worldwide.

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Growth Factors

The ultrasound market is experiencing robust growth driven by several factors. Technological advancements, such as the development of 3D and 4D imaging, elastography, and contrast-enhanced ultrasound, have expanded the capabilities of ultrasound systems, enhancing diagnostic accuracy and clinical utility. Additionally, the rising prevalence of chronic diseases, growing geriatric population, and increasing demand for minimally invasive diagnostic procedures are fueling the adoption of ultrasound imaging globally. Moreover, initiatives by governments and healthcare organizations to improve access to medical imaging services in emerging markets are contributing to market expansion.

Region Insights

The ultrasound market exhibits varying dynamics across different regions. Developed regions, such as North America and Europe, dominate the market due to high healthcare expenditure, technological innovation, and established healthcare infrastructure. These regions witness steady demand for advanced ultrasound systems across various medical specialties. In contrast, emerging markets in Asia-Pacific, Latin America, and the Middle East are experiencing rapid growth attributed to increasing healthcare investments, rising disposable incomes, and expanding patient populations. These regions present significant opportunities for market players to expand their presence and tap into underserved healthcare segments.

Ultrasound Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 7.30%
Ultrasound Market Size in 2023 USD 9.38 Billion
Ultrasound Market Size in 2024 USD 10.06 Billion
Ultrasound Market Size by 2033 USD 18.98 Billion
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product, By Portability, By Application, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Ultrasound Market Dynamics


Several drivers propel the growth of the ultrasound market. One of the primary drivers is the increasing prevalence of chronic diseases, such as cardiovascular disorders, cancer, and kidney diseases, necessitating regular diagnostic imaging for disease management and monitoring. Additionally, the growing preference for non-invasive diagnostic techniques among patients and healthcare providers is driving the demand for ultrasound imaging solutions. Furthermore, technological advancements enabling faster scanning, higher image resolution, and improved workflow efficiency are driving the adoption of ultrasound systems in clinical practice.


The ultrasound market presents lucrative opportunities for players across the healthcare ecosystem. Expansion into emerging markets offers significant growth prospects due to increasing healthcare infrastructure development and rising demand for diagnostic imaging services. Moreover, strategic collaborations and partnerships with healthcare providers, research institutions, and technology companies can facilitate product development and market penetration. Furthermore, the integration of artificial intelligence (AI) and machine learning algorithms into ultrasound systems holds promise for enhancing diagnostic accuracy, streamlining workflow, and enabling personalized patient care.


Despite the promising growth outlook, the ultrasound market faces certain challenges. High upfront costs associated with advanced ultrasound systems may hinder adoption, particularly in resource-constrained healthcare settings. Moreover, reimbursement limitations and regulatory hurdles in some regions pose challenges to market expansion. Additionally, the lack of skilled healthcare professionals proficient in performing and interpreting ultrasound examinations can impact the effective utilization of ultrasound technology. Addressing these challenges requires concerted efforts from industry stakeholders to enhance affordability, improve reimbursement policies, and invest in training and education initiatives.

Read Also: Telecommunication Market Size to Rake USD 3.99 Trn by 2033

Ultrasound Market Recent Developments

  • In February 2024, Fujifilm launched a new endoscopic ultrasound machine in India, the ‘ALOKA ARIETTA 850’. This machine offers superior features such as enhanced image quality, HD-THI for deeper penetration, and combi-elastography.
  • In November 2023, Samsung launched a new ultrasound system named ‘V6’. This ultrasound system enhances image clarity and accuracy. It is also adaptable to various medical settings through its simplified workflows, wide screen, remote access, and powerful design with a battery option.
  • In November 2023, Koninklijke Philips N.V. announced the launch of its flagship ultrasound system, the Compact Ultrasound 5000 Series. This system features Contrast-enhanced ultrasound, an ultra-high-frequency transducer, 3D-like vascular flow advanced imaging, quality advanced image acquisition, and expanded tele-ultrasound capability.
  • In May 2024, Esaote SPA launched a portable ultrasound system named ‘MyLab Omega eXP VET.’ This system will help veterinarians examine animals with a high level of flexibility and accuracy in diagnostic imaging. It also covers animals of all species and ensures high performance, ranging from general imaging and echocardiography to interventional procedures.
  • In April 2024, GE HealthCare (GEHC) launched two ultrasound systems, ‘Voluson Signature 20’ and ‘Voluson Signature 18’. These systems are equipped with AI features and advanced tools to increase the efficiency of diagnostic centers and improve women’s health.
  • In September 2023, Mindray Medical International Limited launched the TE Air wireless handheld ultrasound device. This device offers multi-device connectivity and flexible charging options. It also produces high-quality images and ensures accessibility in critical clinical scenarios.

Ultrasound Market Companies

  • Zimmer MedizinSysteme GmbH
  • General Electric Healthcare
  • Fujifilm Corporation
  • Hitachi, Ltd.
  • Mindray Medical International Limited.
  • Samsung Healthcare
  • Siemens Healthineers AG
  • Koninklijke Philips N.V.
  • Canon Inc.

Segments Covered in the Report

By Product

  • Diagnostic Ultrasound Devices
    • 2D
    • 3D/4D
    • Doppler
  • Therapeutic Ultrasound Devices
    • High-intensity Focused Ultrasound
    • Extracorporeal Shockwave Lithotripsy

By Portability

  • Handheld
  • Compact
  • Cart/Trolley
    • Point-of-Care Cart/Trolley Based Ultrasound
    • Higher-end Cart/Trolley Based Ultrasound

By Application

  • Cardiology
  • Obstetrics/Gynaecology
  • Radiology
  • Orthopaedic
  • Anaesthesia
  • Emergency Medicine
  • Primary Care
  • Critical Care

By End-use

  • Hospitals
  • Imaging Centres
  • Research Centres

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

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I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.


I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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